SectorWire
SearchRegister
MenuClose

TozziniFreire partner argues Brazil needs clearer prediction-market rules

Regulation

An opinion column on a Brazilian betting industry site argued that prediction markets in Brazil raise unresolved questions about regulatory jurisdiction. TozziniFreire partner Jun Makuta said contracts tied to financial benchmarks could qualify as derivatives and securities, while sports-related products may fall under the Secretariat of Prizes and Betting; the column also described the risks of offering such products without relevant authorisation.

The legal analysis identifies possible securities and gambling oversight for platforms and investors considering Brazil’s prediction markets.

Request a correction

Flag an issue

Keep reading

Regulation

CFTC gives prediction markets 30 days to justify or remove geographic restrictions

The US CFTC gave markets under its supervision 30 days from its 5 November announcement to remove domestic geographic restrictions or explain why they cannot do so. The direction does not legalise all prediction contracts or override court orders; on 4 November, a federal judge ordered Kalshi to stop offering sports contracts in territories of the Indigenous communities that brought the case.

The US CFTC has given markets under its supervision 30 days to remove domestic geographic restrictions that conflict with impartial access rules or explain why they cannot do so. The decision was announced on 5 November.

Continue reading